All the signs suggest multinational investment in Ireland and the State’s corporate tax receipts are going to continue to grow despite concerns to the contrary, former chairman of the Irish Fiscal Advisory Council Seamus Coffey has said.
However, Mr Coffey argued on Friday that multinational investment in Ireland is “just as likely to continue to rise as it is to fall”. “If you go down to Cork City and drive around the outskirts, every so often you pass what was once a farm but is now a multibillion euro pharmaceutical company. Speaking on the same panel, Ibec chief executive Danny McCoy said the current inflationary pressures in the world economy could be traced back to the initial onset of the Covid-19 crisis. “Too little is being diagnosed in what happened at the start of Covid,” he said.
“The scale of the money put into the global financial system has been gargantuan, and it was left in the patient for too long, for two years.
I hope he’s right. Seamus knows what he is talking about.
Bertie vibes